CIKARANG PROPERTY MARKET ON THE RISE, LPCK LAUNCHES NEWVILLE
Jakarta, October 18, 2022 – Comfort and accessibility have made the industrial zone of Cikarang, West Java, a preferred location for many businesses. Demand for warehousing in this area continues to be driven by sectors such as e-commerce, logistics, fast-moving consumer goods (FMCG), and chemical materials, which have continued to grow even amid the Covid-19 pandemic.
In line with this industrial growth, interest and demand for residential housing in Cikarang have also risen. To meet this demand and capture the momentum of property growth in the area, PT Lippo Cikarang Tbk. (LPCK), a subsidiary of PT Lippo Karawaci Tbk. (LPKR), has introduced its latest five-story vertical residential product, Newville.
Newville apartments offer three unit types:
Superior (24.35 sqm), starting from IDR 279 million
Deluxe (28.95 sqm), starting from IDR 333 million
Suite (40.75 sqm), starting from IDR 467 million
LPCK CEO Rudy Halim stated, “Newville is a vibrant new five-story residence designed with a new lifestyle concept and international ambiance, located in the heart of the new Lippo Cikarang. Newville – New Life of The Next Generation – is our offering for people who want to experience the future of living, as the facilities provided are both comfortable and practical. We are confident that Newville will meet the evolving needs of customers seeking modern future-ready homes.”
The launch of Newville is aligned with LPCK’s 2022 pre-sales target of IDR 1.45 trillion. In the first half of 2022, LPCK recorded IDR 641 billion in pre-sales, reaching 44% of the full-year target. This strong performance has had a positive impact on the financial results of LPKR, which owns an 84% stake in LPCK.
LPKR CEO John Riady also expressed optimism about the property industry, which is expected to brighten further following a rebound in 2021. He noted that two sectors continued to grow despite the pandemic: landed housing and logistics, the latter being driven by the surge in e-commerce.
John explained that within the Lippo Cikarang industrial area, around 20% to 30% of buyers are developing land for warehouse purposes. He added that growth in the logistics property sector is further supported by increasing warehouse demand. “LPKR’s pre-sales revenue has also been supported by LPCK through sales of industrial land, commercial properties, and landed house projects such as Waterfront Estates,” John emphasized.
